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Showing 121 - 130 of 136 results for "Best Interest Duty"

FOFA passing causes industry division

ELISE BURGESS  |  FRIDAY, 23 MAR 2012
... more like that of Lord Voldemort." As expected, the Coalition has renewed its pledge to remove opt-in, improve Best Interest Duty and refine the commissions ban on risk insurance inside superannuation among others if it is elected.

FSC: Government drops opt-in requirement

CLAIRE MCGREAL  |  THURSDAY, 22 MAR 2012
... the requirement for opt-in but will not give any certainty to consumers and advisers on the operation of the Best Interest Duty and scaleable advice," Mr Brogden added. The FSC also said it was concerned the Bill did not clearly articulate how the Best ...

FOFA provisions will go ahead: PJC

ELISE BURGESS  |  THURSDAY, 1 MAR 2012
... of the FOFA legislation Bills. The PJC reaffirmed its stance on opt-in and annual renewal statements, saying Best Interest duty would remain as is. It also allowed for the provision of scaled advice and rejected the premise that commission remuneration ...

FOFA discontent rumbles on after PJC findings

CLAIRE MCGREAL  |  THURSDAY, 1 MAR 2012
... allowing for an effective scaleable advice framework". "We want higher standards for financial advisers, we want a best interest duty that puts consumers' interests first and we want an end to commissions," said John Brogden, FSC chief. Planning bodies ...

ASFA warns on unseen MySuper outcomes

ELISE BURGESS  |  THURSDAY, 19 JAN 2012
... whether an adviser could provide scaled advice on single issues or simple scenarios while still abiding by best interest duty regulations. "In order for advisers to be able to do this there needs to be a degree of certainty as to what "best interests" ...

ASIC releases FOFA guidance plan

ELISE BURGESS  |  TUESDAY, 13 DEC 2011
ASIC will release regulatory guidance on best interest duty, scaled advice, conflicted remuneration and ASIC powers before July 1 2012, the regulator said today. The Australian Securities and Investments Commission (ASIC) has released its regulatory ...

Consolidation creating conflict between product and advice

RACHEL DAVIS  |  THURSDAY, 1 DEC 2011
... Premium Wealth already has very strong best principles in practice and the impact of the recently announced Best Interest Duty is limited, however he believes the aspects are likely to be disputed by the industry. "We believe the Best Interest Duty is ...

Industry hits out at Best Interest

CLAIRE MCGREAL  |  FRIDAY, 25 NOV 2011
The Financial Services Council has slammed the government's Best Interest Duty proposal as being "unworkable", warning that in its current form, would give rise to "significant unintended consequences". The contentious proposal, which was tabled in ...

FOFA Tranche 2 reforms tabled in Parliament today

ELISE BURGESS  |  THURSDAY, 24 NOV 2011
... banning of conflicted remuneration payments that influence financial advice proposals and amendments to the Best Interest Duty. Under the FOFA proposal to ban on conflicted remuneration to risk insurance, the Government has requested to ban up-front ...

Industry funds not our focus: Cormann

ELISE BURGESS  |  WEDNESDAY, 26 OCT 2011
Opt-in, best interest duty and the renewed call for pressure on public policy were under the spotlight as advisers gathered to hear from the Opposition on the introduction of reforms in the advice industry. Senator and shadow assistant treasurer, Mathias ...